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tv   Key Capitol Hill Hearings  CSPAN  August 19, 2016 4:00pm-6:01pm EDT

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alignment of interests in the servicing issue. it requires service to marketation to includethis deao that is out there adopted a -- compensation structure and a fee-for-service structure similar to one of the actions that it spoke about and papert in the 2011 white that is interesting and something we should be interested in an following. instead of that flat 25 basis is a servicing fee that compensation structure in three parts. it establishes a base servicing of $19 performing loans a month for loan, incentives,
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there are monetary incentives to the servicer when that loan or those loans going to doing critique. $200 a loan per month for loans that are 30 to 119 days delinquent but not in foreclosure or -- it escalates to $252 a loan per month if there were 120 or more day still equipped. there is a series of one-time $500 forven fees, completed deed in lieu of foreclosure, $1000 for completed third-party sales and $1000 for a completed reo sales. a menus examples of how fee-for-service compensation
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structure in a multi--tiered securitization with a number of tranches that are taking mortgage credit risks out there in the marketplace that we should be following. that is the second thing. mentioning way back when i joined treasury and and knewe escalation about the rising costs, we did not know how much they were going to rise relative to the cost of servicing performing loans although cost of servicing performing loans have gone up significantly as well. and thisus at treasury was truly at the staff level never went up the chain of or thinking about whether or not as we saw the reputation risk as we saw the ranks beginning to be hesitant
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at putting overlays on not wanting to take the next chance of originating loans with a higher probability likelihood of going into delinquency and default. whether or not those lenders might be interested in getting together and creating a non-profit cooperatively owned special servicer that would take the responsibility of servicing these delinquent loans on a rules-based best practice base in ayou have a situation fee-for-service world where that co-op would not be having to earn private equity rates of return but would be able to apply best practices loss mitigation standards in the best
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interest maximizing npv where give banks more comfort in moving up that risk curve where you have credit qualified borrowers but with that higher chance of default. i'm not going to go into any elaboration on them but i would like to put that out there. >> thank you. we have seen such a shift from the banks withdrawing some -- market.e of the nfr >
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>> it would like to discuss three structural changes that have affected the industry. the first is the rise of the non-back -- bank servicers. the numbers are really start. non-bank servicers comprise 34% of the servicing act of the top 50 institutions in the second quarter of 2016. this is down -- up 2% from the end of 2015. it is up 28% from 2010. you can see the rapid shift between the bank and the non-bank servicers with the servicers gaining market share. the second trend is the d consolidation of the industry. the top five servicers comprise four families.u it is now down to 37%.
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one of the top five is a non-bank servicer. there has been an incredible day consolidation of the industry. and then this third trend i want to talk about is the rise of sub-servicers. one point $6 trillion of the $10 single-family servicing is sub-service. 1.1s is up from 1.1 -- one 5 trillion. this is a natural outgrowth of the industry. servicing is a scale business. some want to outsource everything, some want to outsourced illiquid loans but as the industry continues to do consolidate you should expect more sub-service or activity. given that there will be a number of themes that will
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receive considerable attention in the years ahead. mike talked about lost mitigation standards and talk about compensation reforms and i would like the opportunity to pile on there and then the need for regulation of non-bank servicing. let's start with compensation reform. thanks to the nba. we have seen across the servicing of loan is $181 year. the cost of servicing a $86.rforming loan is 2300 institution service all loans at the same price and that price is 25 basis points. average loan is 215,000, 25 basis point is 538 per year. you're losing at 10 on your nonperforming loans by your
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taking money on your performing loans. point basis -- 25 point has unchanged. technological advances have made it less costly. you clearly have across structure that is misaligned. admit the point that the msr asset is volatile. clearly reducing excise would decrease its volatility. this is particularly important in a world in which nonbanks have grown in importance. when we first talked about this in 2011 we were in a world where banks were very important and what we were concerned about was the new basel three rules which will be phased in by 2018 would create a problem.
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was under 10% of capital the capital charges 250%. over 10% it is a dollar for dollar deduction. a cap will charge of 250% which is a huge escalation on the old level. at this point the number of banks with significant servicing assets over 10% is very low. the real problem is for the , what this shows you is msr assets are very small percentage of total bank assets. they are a very large percentage of non-bank assets and they are not persistently better capitalized. the volatile assets we are
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worried about in 2011 in relation to the banks are far more major problem for the nonbanks of this. it is much more difficult to say the current system does not work to come up with something better. there are two possibilities that were discussed in 2011, the reserve account and the more fundamental change which is the fee-for-service approach. today's environment neither of these is a slamdunk. the first is an easier change. the non-bank servicer model is much better. under the current system our concern is that servicers may loan on nonperforming servicing. if we moved to a fee-for-service basis which service compensation reform will servicers be dis-incentivized to make a call if they can elect higher fees if they make -- weight.
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this would facilitate the transfer of delinquent loans. problem -- however if we for months the borrower will be in the middle of a modification. lori talked about the issues of trying to transfer a loan when you are in the middle of the loss mitigation processes. if you think about mandatory service in transfer as what microsoft talking about that is very problematic if the borrower is in the middle of a lost mitigation effort. we have to think about servicing and its impact on access to credit. if we were to reform servicing through either of the mechanisms it introduces risk days pricing into the servicing equation and do we want to
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offset that? that is the set of issues i think about when i think about servicing compensation reform which i supported in 2011 and continue to do so but there is no easy solution. the second topic is the need for regulation of non-bank servicers. cfp beat ise responsible for regulation as it relates to the consumer experience. nobanks essentially have regulator whatsoever. the gse's and jame a have their own capital liquidity requirements on these entities that are much lighter than bank capital requirements imposed by the regulators. regulators -- regulations essentially provided by the warehouse lenders who can pull the lines of business when they feel these entities are too risky and document business. msr'se the point that
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have substantial exposure to risk and nonbanks servicers, as we saw in the slide, represent a considerable amount of their total assets. the volatility of these assets constrained income cash flow and liquidity during periods of sharply falling interest rates or rising default rates. if we do servicing compensation reform and end up with a fee-for-service model, then we really don't need any prudential regulators. these problems largely go away. if we don't do servicing compensation reform, do the non-bank servicers need more regulation, higher capital liquidity requirements when none of these entities are systematically important? can't we just transfer the servicing? i think the answer is yes, you could. if the failures were isolated.
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we are worried about systemic risk. the failures are due to macroeconomic factors and most are due to sharply falling interest rates or rising default rates. a lot of the institutions fail at the same time, there might be insufficient capacity transfer services. it would be cross-linked to do the servicing transfers. our view is at the minimum capital requirements should be risk-based. currently the gsc require the same. another complicated factor is that the non-bank servicers are an incredibly diverse group. some have sizable operations that provide a natural hedge against msr risks. others rely on servicing extensively. i know the idea of a self-regulatory organization imploded with the non-bank entities subject to stress tests.
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the question in my mind is if the industry is capable of doing a self-regulatory organization with enough peace to stress testing. both service and prudential regulation of non-bank servicers are issues that will be -- we will be hearing more about in the years ahead. thank you very much. faith: thank you so much. as ragu speaks, we are also dominated by heavy government footprints of lending towards business. i have not heard what the investor rule is and they fled the market. servicing and investors have had a tough road over the last several years. i would like to we then if we get back to more normalized marketplaces, how do we protect both the consumer and the investor from participating in bringing more ready capital to
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the market? >> i had a choice here of going before or after laurie goodman. i think i might've chosen poorly in that. [laughter] processing some of what her great comments were. let me try to provide a reaction to some of the things we heard on the panel today as faith said monday provided you from the industry as i do i will try to address the slide in front of you. the lesson i recall reform coming up was in 2011 under mr. demarco's leadership. they are good for a couple of different models around servicing compensation reform. a fee-based model, a custodial reserve model. and a lot of good discussion on servicing reform. what i'm reminded of is that a lot of things that changed since 2011.
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a lot of good things. we have a lot of reforms in the customer market for mortgage servicing. we have 2000 pages of rules from the cfpb to keep everyone in line. the industry respects laurie maggiano now. the gsc's have done a lot of work on disclosures. the crt market is getting off the ground and evolving right now as well. that is very good. we have seen a growth and diversity in the servicing industry as well. laurie talked about nonbanks coming in and services who vary in size coming into the market. certainly we think having diversity in the servicing industry is a good thing as well.
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that is usually a sign of a healthy market. at least we have one indicator trending in that direction. these are some the things that are going well right now. i would like to point out, as i recall in 2011, a lot of the focus on reform was not around what sort of model we should have for compensation. the weather servicers were making money off of customers who were in distress by delaying the foreclosure process, collecting fees off of that. i don't want to speak for what happened in 2011. i want to say from my perspective we are pleased to see a lot of that, if that is been in 2011, a lot of that has changed. that is a good work of the cfpb. at wells fargo less than half of 1% of our revenue the make and servicing comes from late fees. we forgive late fees if the customer goes through modification.
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that is not part of the business anymore. unfortunately that is something we see in the industry. these are all good things we see right now. other things have changed in the last five years. the servicing costs is a good example of that. i'm not sure how would you can see the numbers. i can't see the numbers that well. maybe i don't want to. maybe i just want to see the numbers. back of the envelope when you think about it. performing costs on servicing performing loans has gone up three times in the last five years. five times for nonperforming loans. the costs have gone up significantly both for loans and perform well for customers that pay their bills on time and for those that need help with their mortgages. profits have risen dramatically in the last five years. as laurie said, there is a credit availability issue.
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there are too many americans not able to get homes, particularly first-time homebuyers in this market. that is something very important to the industry and wells fargo as well. we know all of these things. i look at the slide. there are a lot of ways to slice the data. you will see the cost slice by performing loans and nonperforming loans, or different parts of the business. the take away message is that the servicing business is really complex and costly and really complicated. that is true. at many levels it is true that it is very complex. what i fear is when we talk about the complexity of the business we of skier what we can actually do to fix things. i will attempt to bring it up a couple of levels here. maybe boiled the servicing
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business model down to a very short two or three sentences to help us understand a little bit about where we can go from here as well. generally there are two parts that were alluded to in servicing business. you have the business where you service performing loans,, the customers who pay their bills on time that the vast majority of americans. and you have a nonperforming loans, the customers who need help, need specialized service to be able to service those needs. the performing loan business, as you probably know, is a business which has very strict costs and predicable revenues. i forgot the term earlier, a
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normalized kind of business generally. then you have your nonperforming loan business which is completely different. you don't have a lot of fixed costs. they are variable and unpredictable. customers who were in loans having difficulty paying them back need personalized help. this is not a business that will be tremendously automated as well. you have these two parts of the business that ultimately most servicers are trying to balance. what a servicer will typically do is take the money they make, the revenues they make in the performing loan business and use that money to make investments in nonperforming loans. nobody is looking to make a buck off of nonperforming loans. you have this balance model. we make money off of performing loans. do you use that to really work on the unpredictable cost that happens with nonperforming loans as well. that is fine. that works as a space suggested for many years. that has changed now dramatically in the last five years. it changed because the costs you see here. in performing loans margins of gotten thinner. nonperforming loans cost. what we have not talked about which is more important than just the cost of nonperforming loans is the unpredictability of costs as well.
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at the same time we've seen costs go up three times in the last five years, we see the unpredictability of cost of nonperforming loans go up as well. having said that, what can you really do about that? a couple of things. one is we can look at the performing loan business and say, whiter costs going up? where costs going up for this tens of millions of loans and costing americans that are being serviced on loans they are paying off on time and cyclically? there was a lot of reasons for that. it is more than i can go into in the remaining time i have. i will make. one comment the servicing industry really doesn't have time to catch his
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breath in the last few years. we have an operationalizing new regulations or rules from investors constantly for the past few years. we support all of those. we certainly support the recent work that laurie has done in bankruptcy statements. we support all of that. it suggests that every year there is more and more work, more operations, and that is not necessarily a bad thing. we will work through that. it tells you were not able to normalize the costs. every year we are putting on something new and we have to normalize that. when i look at this and say performing loan costs are rising high, i would expect that to continue the more we are continuing to implement new rules and standards on an annual basis. when we are able to normalize this and count the efficiencies, it will perhaps shift a little bit. the second thing i would say is reducing the incidence of customers going into default. reducing the incidence of nonperforming loans. i think the gsc's under the leadership of fha have done every good work.
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mike talked about a tremendous program. a lot of learning for the industry. there is work taking place right now. that is critical work. that type of work reduces the incidence of customers having difficulty going down a road they don't want to go down and creating a lot of of the issues we talked about. however the figure is difficult on fha. on fha it's important to talk about it. there are over 10 million american loans. we service 30% of all fha loans. fha is important to us, customers are important to us and our relationship to fha is important. this is a case we start to see a divergence between gsc's and fha. they are limited and often lead to borrower outcomes that are not as beneficial as you would like to see.
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if anybody wants to read the metric support, i can e-mail that to you. the default rate for fha customers through modification part if they are significantly higher. their options are far less than what they would see as well. reducing the incidence of default, seeing a divergence year, really good work under the leadership of fha. work necessary likely in the fha as well. the third part is this unpredictability of default costs. i'm not trying to minimize the rising default costs. i think mike in laurie and everyone has talked about that well. the unpredictability gets just as much attention as a cost itself. the inability to know what you are on the hook for, the inability to plan or budget for money you might need to spend is
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a critical issue. as much as anything else i think it causes a lot of concern. here we start to see a divergence with the gsc's and fha as well. fannie mae and freddie mac along with fha have done some work here on warrants and others to really make is a little bit more predictable. the health servicers understand what they are accountable for if they don't meet the standards. very different case at fha and probably the most significant issue we have right now in the servicing industry is the unpredictability of costs in the fha servicing space.
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we have situations where it is hard to predict penalties associated with missing foreclosure deadlines and the fha space. part of it penalties with missing bank standards. there is a lot of lack of clarity in the space. the ability to bring clarity and predictability into fha space is about as important an issue we have right now in addressing what we see in front of us in the servicing industry now. those are my comments in general. where i think we can go from here. in no way am i trying to minimize the conversation around servicing compensation reform or even some of the other ideas that michael talked about. when need that type of dialogue and fought and pushing forward. reform is a word that is probably with us here for the long term. i would suggest that to use a cliched phrase, we are at a bit of an inflection point. the point really is are we going to accept the way things are
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today or do we think there can be some change here? that is the inflection point. if you except costs will be extremely elevated in servicing, that it will be unpredictability and a lot of these servicing costs, it will be hard to reduce the incidence of default in the fha space. if you accept that will happen and we look at solutions that are more far reaching then talked about before, i am not there yet. i am not there yet where i am saying we have to accept that the way that is. i think if we get the industry opportunity to normalize the standard set of come out, we understand some of the deals that michael and others have talked about and other crt work that is evolving. i'm not suggesting that reform doesn't need to happen, but it's important that we understand what is a condition of the industry? what are we trying to fix? faith: thank you so much. one thing i think we should lose is about reform for fha and hide as well as gsc's, and not talk
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about reform without talking about the full housing market. the best part his ahead because we get to talk and hear from you on the questions you have from this esteemed panel. questions from the audience. in the back left corner? say who you are. >> todd wiggins. i appreciate your presentations. i want to ask about dodd frank and whether you feel it has been ineffective legislative initiative. not to make a political statement, but do you feel it was worth the trouble overall? mr. kakamanu: i appreciate you asking that question. i'm in a reflexive mood as well. i think reforms were necessary, absolutely.
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i think that they were reforms necessary in terms of how the industry was making loans, in terms of how we were servicing loans. there was a lot we can do to get better. i think a lot of good things came out of dodd frank. i think together as an industry along with many consumer advocates and others who care deeply about the housing market, we have been able to learn about how to serve customers and think about their business in the with a repay loans. how do we standardize that across the industry. i think the work that laurie and her team of done have brought consistency. to a large extent i would say reforms were necessary. many things came out of the dodd frank which are very positive. i think many things came out of the learnings of the financial crisis they didn't necessarily
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result in the dodd frank act of her positive. speaking from sitting in a company, cap wells fargo, i know we spent a tremendous amount of time stepping back and listening to our customers, understanding how they felt and what they were experiencing. that has changed just as much as regulations of changed as well. i think a lot of good things of happened in the last five or six years. faith: sarah ortel? >> thank you for being here. a couple of people mentioned it but i think it's worth mentioning again, the store you have told so compellingly must be played and the constraints on
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credit. if you have these evermore expensive cost for nonperforming loans, the intent is to originate loans that might be at a higher risk to not perform, and are likely to become more and more powerful. i think the point you made at the end about volatility and the lack of availability to predict, i think we don't think about servicing businesses in the same ways as far as hedging risk and ensuring against loss in a way we do in the credit enhancement side -- credit risk side. particularly with a lack of predictive models of the cost of servicing. it almost certainly has to be an aspect of constraint of credit. i hope the panel will spend a moment talking about those
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consequences as we go forward in talking about different servicing models, evaluate them in those terms. we have seen an enormous the meta-tech innovations in part of the financial services sector. particularly around had access new customers. far less investment has been spent in managing and service existing. customers maybe because you have been reactive, but the startups are not investing in the same way. i am wondering whether nonperforming servicing is the place where tech may be able to help us bring the cost down. ms. goodman: yes. i think servicing is a huge mistake in terms of access to credit. we have written about it, about the uncertain costs, they get especially problematic if you can document accosted the euro
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how to price it in. if you can't document the cost, the reaction is i will stay away from it. i think that's an important contributor to the overlay that many of the lenders have on top of the gsc's and especially the fha credit box. they are more significant on the fha credit box at this point because of the fact servicing is basically such a pain in the ass. and the false claims act. the fact that you are seven certain about conveying the fact that fha loans don't have one timeline for the process. they have one for each aspect of the process and if you violate any of the timelines, you have an uncertain penalty structure. i think that work still has to be cleared up and certainly interesting those things will make a difference in terms of the overlays that lenders are sitting on top of the fha box.
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i can't emphasize enough how important that fha box is because for many of the more credit constrained customers, fha is their only alternative. those constraints for the overlays are meaningful. mr. kakamanu: i would offer two reactions. i agree on fha servicing. the m predicted ability can cost is extraordinarily high. i want to make knowledge that fha has been doing work in this space. they publish changes earlier this year specifically because of reservation and some other foreclosure timelines. a lot more really remains to be
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done. we can go into technicalities but i will briefly say it is nearly impossible for servicers to accurately predict the costs when an fha servicing loan goes into default. it is a very difficult process. and what needs to happen there. i had planned to say this, but i will offer a comment about your tech and innovation piece. i have been with wells fargo for 14 years. in 2004 i was working in the online channel. my job was to work in the origination's side. i felt it was an opportunity and online servicing for home loans. i moved into that space and built of the online banking platform for wells fargo at that time. prior to the financial crisis wells fargo invested tens of millions of dollars in an online platform, trying to build services for its vast servicing portfolio. that grew from under 100,000 customers over 5 million and five or six years. we made a tremendous investment before the financial crisis in
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building up a kind of infrastructure. we do make a commitment and investment in infrastructure and wells fargo now, but there is less of an opportunity to make that in the customer's space. it is not visual. he see that and how we implement regulations and operationalizing other things or working on bankruptcy statements. we are spending a lot of money on those kind of things. i think it's remarkable that you have an industry where you have tens of millions of customers, all of phone you have an interest in them when they pay their mortgage, and there is not a greater interest in entering that space. i don't have an answer for it but i think it's a remarkable sort of thing. >> we leave you to go to baton
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rouge where john bel edwards is holding a news conference to talk about payment -- be my disaster assistance. >> i have a lot of information to go over and this press conference will take a few minutes and then we will have questions on the topics we cover. i felt it was important to put out this information before the weekend so we would be able to all the people in the people in louisiana on some important information regarding our response and recovery efforts. this is a lot of information so i asked for people to be patient but also to pay attention because it is all very to thent. before i get specific information i do want to take a minute to thank the many donors, corporations that
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have generously given to the recovery effort. donate $1s decided to million to our recovery efforts on top of the $500,000 that have committed. we are grateful for their donation and the other generous donations being made by people and businesses around the state and around the nation. the oned yesterday to not having this feature is donations to the recovery effort whether it would be to red cross or the ben & jerry's foundation have not been what they should have been. that is a critical -- critically of thent component recovery effort. we wanted to thank those people and encourage people to continue to be generous.
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i want to update you on what we are doing to address the housing needs of those affected by this historic flood. two types ofified assistance that we are going to discuss today. the first is transitional shelter assistance. you may hear may refer to it as tsa. shelter assistance is a temporary fema program that will pay for eligible citizens who have been displaced to stay in a hotel on a rolling 30 day basis. for tsa you must have registered with fema and indicated your living in a car, a hotel, a shelter, or at your place of employment. if you selected one of these categories when registering, fema will automatically call you beginning today and direct you to a
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worksite with information on available hotels and how to arrange a room so make sure that your contact information with fema is up-to-date. when you register you will have to have indicated that you are , orng in a car, hotel shelter or at your place of employment. if you have been displaced or staying with friends or family, you are not eligible for tsa. this is to ensure the limited rooms are available to those who need them most. second type of housing assistance is to find rental property by visiting www.lahousing.org. this website collects all types of rental property available right now in your area. we also want to encourage property owners to lift your
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property and be willing to rent short-term. there are people who desperately need access to your housing units and i'm asking you to cooperate with us and make your rental units available. i know that these individuals will be grateful as well for you working with them to meet their needs during this difficult time. we understand that you want to know about longer-term housing options as well. process of working diligently and around the clock to assess those options and we will have a plan that we can present to you by the middle of next week. we are working as quickly as possible to get a plan right so we do not have to backtrack and so the assistance we offer will be meaningful and the most appropriate for each category of individuals who have been affected area where also planning -- affected.
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we are also planning to consolidate shelters. tomorrow, the individuals who are sheltered at fg clark will begin. the move will be complete to the river center. at fg clarkltering tomorrow will move to the river center. and on monday, we will relocate from celtic to the river center those individuals who are being sheltered there. so that at the end of the day monday, the one sheltered in operation will be at the river center downtown. you o want to discuss with dsnap benefits. we will be opening 10 sites in the following eight parishes beginning on monday. feliciana, iberia,
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livingston, st. helena, st. landry, [indiscernible] and vermillion. 10 sites in those eight parishes will be open monday for dsnap. it will open on east baton rouge paris on august we nine. this is what you need to know nap benefits.ng ds the only people who need to sign e those who are signing up for the very first time. we are urging you to preregister w.dcfs.la.gov. that is ww w.dcfs.la.gov/preregister or you 888-lahelpyou.
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and that is the same as 524-3578. to apply you will have to go in sites to one of the dsnap in the parish where you live. there is a designated schedule determine when you should go to apply. we are going to use the first letter of your last name and we're going to proceed alphabetically. on monday, august 22, to not go to your dsnap location unless your name starts with the letters a through d. tuesday, august 23, your last name should start with e through
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k. wednesday, august 24, your last name should start with l through r. and on thursday, august we five, your name should start with s through z. if you show up on a day that does not correspond to the first letter of your last name, you're not going to be seen so please be patient. this is the only way that we can get through all of the individuals who will be applying for dsnap. 25, all of theh a-k applicants who are unable to make their prior schedule day will be seen. with a last name starts letter between a nk and you were not able to make it on monday, august 23 are tuesday august 22 or- monday august
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tuesday, august 3 30 it your makeup day will be on monday, march 25. saturday, august 26, we will z applicantsrough who were unable to make their schedule days which were wednesday and thursday of next week. must goplying for dsnap to a specified site for the parents where they resided during the disaster to receive benefits if they were eligible. receiving snap benefits and live in f1 flood impacted area benefits will automatically be added to your ebt card. you do not need and should not location in that instance. if you registered in a previous disaster you are already in the system. you do not need to register again, what you do need to go to
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the site on your appointed day and when you do, your information will be updated. in the coming days, you will also see an awful lot of fema activity going on in your communities and in your parishes. disaster assistance teams are on the ground and will be in your neighborhoods to help you register and access fema services. these disaster assistance will it isring fema badges and important to remember that fema never charges for any of their services. fema worker ise ever going to ask you to pull out your wallet, pull out your check book, give them a credit card. that will not happen. seeing disaster recovery centers opening where fema representatives will be able to address your specific needs case-by-case.
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these will be one-stop shop the red they will have cross of these disaster recovery centers, the small business administration, and other agencies in order to make sure that you receive the assistance to which you are entitled and which you need. also, the louisiana economic morent will be opening business recovery centers so that small business owners can get the help they need to get back on their feet. addition with respect to the small business administration, and livingston paris the business recovery center was opened in walker yesterday. on monday, august 22, the small business administration will open a recovery center in ascension parish as well as in east baton rouge parish at two
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locations and let me back up, in ascension parish, it will be a bank or southbank at 13 420 .hree hwy 73 in prairieville it will open at 9 a.m. monday, august 20 two. in east baton rouge, the small business administration will open a recovery center at the louisiana state archives which is at the corner of i-12 and [indiscernible] -- open 8 a.m. on monday, august 22 and will stay open till 4 p.m.. workforce tor billman said it will be used as a recovery center, 3262 baker boulevard. it will open at 8 a.m. on monday and will stay open until 4:30 p.m. in lafayette parish, the business recovery center will
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open at louisiana immersive technologies enterprise and their executive conference room at 537 cajun dome boulevard. it will open at 9 a.m. monday and will remain open until 6 p.m. will openvery center at 9 a.m.tral avenue on saturday, august 20. that is 9:00 a.m. saturday, august 20. as you can see, this is a lot of information, but we are working a lot -- around the clock to get displaced to louisiana in's and those have been affected by the storm as quickly as possible, as efficiently as possible and as meaningfully as possible. so with that we will open it up for questions and as you can see
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i have individuals behind me who are working all of the areas where we will be offering assistance so that should your? why are we have the experts on-site to answer them. - >> you indicated that registration will open on the 29th, that is a week later events on the other parishes. is there a reason why it will take an additional week to get it underway? >> there is a reason there are 20 parishes. we will offer benefits in all 20. we are unable to do them all simultaneously so we have a schedule where over three weeks it will be taking care of. in baton rouge we will start the week later on as you just mentioned and we are going to do that because the individuals who are running the shelters are also test with administrating th e dsnap program.
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we are turning over as much is that operation is possible to the red cross to free up the workers at the department of children and family services so they can -- administer the dsnap program but it will take that additional week to have the numbers necessary for baton rouge because it is the most populous parish that we are going to administer the program in. thank you. do want to talk about donald trumpplus visit -- donald 's visit? p> he did not go to a dsna center. [inaudible] that will impact a lot of people. >> we are very much aware of
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that. we have had that before and my recommendation would be for those survivors once they get that determination is they go to one of our disaster recovery centers to sit down and begin the process of working through that. i want to emphasize that determination of substantial damage is not made by fema. that will be made by the local jurisdiction. we will provide technical assistance in that process. >> can you provide a definition [inaudible] >> when the property is at 50% or more damaged as determined by a trained observer for that process. more, governor. you issued a plea for private property owners to open up their residences for rent create how many people, is there an estimate of how many people need a place to stay and how many
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rental units are available in our area? >> the plea was directed to property is in the commercial rental business. i am not looking for individuals to put a bedroom for rent sign in front of their house. in terms of the rest of the question that you ask i am not sure if anybody here who yet knows exactly how many people that that would apply to but we the individuals who have registered, the individuals who are in shelters to get as much information as quickly as we can about the population so that we can marry them up with these resources as quickly as possible. not just the individuals who need the rental, we need individuals who own rental units to register with us so we can marry individuals up. >> is there an estimate of how many people, how many families
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need a place to stay? >> i do not know that we have an estimate. >> this is why the step the government it -- governor is taking us open. where beginning to get an idea scale and a true scope of the problem. over the next couple of days as we see the results we will get a theer feel for what long-term housing need is going to be, just how big that will be. >> we have some sense of the scale because we know more than 40,000 homes were damaged to some degree, more than 30,000 people had to be rescued from their homes and we know how many people have an sheltered over the last several days. we are talking about an awful lot of people which is why we are trying to turn on the assistance as soon as possible. >> can you update how many people are still in shelters?
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>> it is right at 4000 is what we expect to shelter overnight tonight. [inaudible]ve any economic damage scope? have you gone to the point of being able to quantify how bad this is? >> in terms of the economy with respect to the individual businesses, the impact to the state -- >> amine broadly the economic impact on the areas that have .een hit >> in several areas but especially in livingston parishe -- parish there is a lot of businesses that are closed. that is one of the reasons why we put the business recovery center in livingston parish first to direct resources there where they seem to be most in
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need. we need those businesses to stand back up so that normalties can resume activities and operations and those homeowners can do it back in there and have the support of -- they need. that is going to be important in all of the areas but most acute right now in livingston parish. we have not been able to gather all of the data that we would need to give you a more precise answer. we just know that it is very serious and the impact is adverse and we are going to do everything we can to rectify that essence we can. >> what do you think [inaudible] >> we will have a complete plan that we will announce on wednesday of next week. they are under consideration next at that -- except that if we pull the trigger on that it will not be the fema trailers you are accustomed to.
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fema does not do that anymore. these are manufactured housing units at look like a mobile home. i do not it is certainly on the table for consideration. tsa -- question -- the not tsa, but housing properties, can you give us an idea? >> it was used here in march. we had experience here in louisiana this past march where individuals had homes damaged in the flood. we done this recently. we have a good idea how it works. it is something we could pull the trigger on to be effective very quickly which is why we are doing it now. thank you all very much.
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>> the white house has announced today president obama will visit louisiana on tuesday to meet with officials there and get a firsthand look at the areas affected by the historic flooding. republican presidential nominee theld trump with presentation in louisiana today, meeting with officials and touring areas impacted by flooding in the state.
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>> join us tonight for a special presentation of newsmakers. our guest this week is roger stone, a longtime friend of donald trump. he talks about what to expect from the presidential debate and issues that could affect the election. that is this week's newsmakers tonight at 8:00 and 11:00
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eastern on c-span. >> three years after a supreme court ruling overturned part of the voting rights act, courts across the country struck down a number of state laws singing they discriminate against specific groups of voters. saturday night, we look at voting rights and the impact on the 2016 elections. we feature part of the 2013 supreme court oral argument in shelby versus holder. members of congress look at whether to restore the voting rights act and the discussion on whether it is necessary. here is what the presidential candidates had to say. a. trump: all this voter id, lot of these places will not have it. what does that mean? you just keep walking in and voting? happeningon: what is is a sweeping effort to disempower and disenfranchised people of color, poor people and young people from one end of our
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country to the other. >> watch our issues spotlight on voting rights saturday night at 8 p.m. eastern on c-span and c-span.org. for campaign 2016, c-span continues on the road to the white house. >> we need serious leadership. this is not a reality tv show. this is as real as it gets. >> we will make america great again. ahead, live coverage of the presidential and vice presidential debates on c-span, c-span radio and c-span.org. monday, september 26 is the first presidential debate live from oxford university. viceesday october 4, president of candidates mike pence and tim kane debate in virginia. on sunday, october 9, washington university in st. louis hosts
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the second presidential debate. leading up to the third and final debate between hillary clinton and donald trump taking place at the university of nevada las vegas october 13. live coverage of the presidential advice presidential debates on c-span. listen live on the c-span radio app or listen anytime at c-span.org. next, republican presidential nominee donald trump in charlotte for a rally. his comments are about 50 minutes. ♪ [applause] >> thank you. thank you very much.
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thank you very, very much. thank you. [applause] thank you. it is great to be in charlotte. [applause] and it is great to be here to support a man who is going to change this country and move it in a different direction. [applause] a man who is going to make sure that there is more money in your pocket by lowering taxes. a man that is going to create more job so people can work. the way out of poverty is a good education and a good job. and that has got to be the model for us. that is the ladder of success and that is how donald trump became successful as he is. and he is running for this office because he loves america, he loves you.
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he is doing this for you, not for him. [applause] and he is exactly the right man at the right time. we now need a person who can go to washington with a big room and clean it out -- a big broom it out and clean it up. and he is running against a candidate who was the worst secretary of state in my lifetime. [applause] she is running on her experience. ha! her experience is the reason to vote against her. [applause] it is a experience are distinguished state department and turning it into a paid for playing operation. in other words, if you donated millions to the fraudulent clinton foundation, you got a special favor from the state department. you got to meet with an ambassador.
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or you got a call to the internal revenue service to go easy on your company. or you got involved in a big deal where the russians get 20% of our uranium and you made a lot of money. you had access to the paid for play state department. i am a former prosecutor, you know what i call that? i call that racketeering. [applause] she should have been indicted. she should have been indicted for destroying the 34,000 e-mails. she should have been indicted for being careless. extremely careless and national security information. do you know if she applied for a job as an assistant u.s. attorney, you would not be able to hire her because she could not pass an fbi background check? you are not going to hire someone who has been extremely careless with national security information.
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and she thinks we are stupid enough to elect her as president of united states? this is a woman who should be sitting in a courtroom defending herself, not running for president of united states. if it were you or me, we would be in that courtroom, you could better your bottom dollar on that, boy. the clintons have been given a free ride for too long. there has been a different standard applied to them and apply to you and me. they are a part of the washington insiders. we now have a chance to elect a man who funded his own campaign, he doesn't owe anything to anybody. he doesn't owe anything to special interests and is not owned by this group or that group like hillary clinton is. she is like a puppet and people are pulling her strings. this is a man who stands up for what he believes, he speak straight and honest and has been successful at everything he has done. what he wants to do is make this
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country a country where we can dream of a future better for our children than it was for us. that is why he is running and that is what he is dedicated himself to. i have known him for 28 years and this is what i know -- when he puts his mind to doing something, he gets it done. in america is going to get the benefit of that when you make him our president. and it is my honor to introduce to you donald j. trump. [applause] >> ♪ i am proud to be an american, where at least i know i'm free. and i won't forget the men who died, who gave their life to me. and i gladly stand up next to
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you, and defend her til today. there is no doubt that i love this land, god bless the usa. [applause] mr. trump: thank you. [applause] thank you. thank you very much. thank you and it is great to be in charlotte. [applause] i just met with our many amazing employees right up the road at my property. i will tell you that they like me very much. i guess i pay them a little bit too much. [applause]
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i would like to take a moment to talk about the heartbreak and devastation and louisiana. a state that is very, very special to me. we are one nation. [applause] when one state hurts, we all hurt. and we must all work together to lift each other up. [applause] working, building, restoring together. our prayers are with the families who have lost loved ones, and we send them our deepest condolences. through words cannot express the sadness one feels at times like this, i hope everyone in the louisiana knows that our country is praying for them, and standing with them to help them in these difficult hours.
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they are very, very difficult. thank you. we are one country, one people, and we will have together, one, great, fantastic future. [applause] together, i would like to talk about the new american future that we are going to create as a team together. last week, i laid out my plan to bring jobs back to our country. they are vanishing, they are vanishing quickly. on monday, i laid out my plan to defeat radical islamic terrorism. [applause] on tuesday, in wisconsin, i
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talked about how we are going to restore law and order to this country. we need law and order. without it, we have nothing. [applause] let me take this opportunity to extend our thanks and our gratitude to the police and law enforcement officers in this country, who have sacrificed so greatly in these very difficult times. and they are difficult. [applause] the chaos and violence on our streets, and the assault on law enforcement, are really and truly an attack against all peaceful citizens. if i am elected president, this chaos and violence will end, and it will end very, very quickly. [applause] every single citizen in our land has a right to live in safety.
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to be one, united nation, we must protect all of our people, all of our people. [applause] but we must also provide opportunities for all of our people. we cannot make america great again if we leave any community behind. [applause] nearly four in 10 african-american children are living in poverty. i will not rest until children of every color in this country are fully included in the american dream. [applause] jobs, safety, opportunity, is what we have to have, and it is what we need. fair and equal representation.
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this is what i promise to african-americans, hispanics, americans of all types, of all colors, of all religions, this is what we promise, everyone in this room promises, this is what we have to do. [applause] but to achieve this new american future, we must break from the failures of the past. as you know, i am not a politician. [applause] good. i worked in business, created a great company, built a lot of jobs. rebuilding neighborhoods. that is what i have done all my
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adult life. i've never wanted to learn the language of the insiders. and i have never been politically correct. it takes far too much time. [applause] truthfully, it takes far too much time and can often make it more difficult to achieve total victory. sometimes, in the heat of debate, and speaking on a multitude of issues, you don't choose the right words, or you say the wrong thing. i have done that. [applause] [cheering] and believe it or not, i regret it. >> trump, trump, trump, trump, trump. mr. trump: i do regret it.
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particularly, where it may have caused personal pain. too much is at stake for us to be consumed by these issues. but one thing i can promise you this -- i can always tell you the truth. [applause] [cheering] i speak the truth for all of you and for everyone in this country who doesn't have a voice, of which there are many. i speak the truth on behalf of the factory worker who lost his or her job, and that is happening more and more in our country. i speak the truth on behalf of the veteran who has been denied the medical care they need and
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the medical care they deserve. [applause] [cheering] and so many are not making it. but they will make it if trump becomes president. that, i can tell you. [applause] [cheering] they are dying in lines, waiting for a doctor. we are going to take care of our veterans. i speak the truth on behalf of the families living near the border that deserve to be safe in their own country but is instead living with no security and no protection at all. [cheering] >> build the wall. build the wall. build the wall. build the wall. build the wall. build the wall.
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build the wall. build the wall. build the wall. build the wall. mr. trump: we will build the wall. [applause] [cheering] believe me, we will build the wall. our campaign is about representing the great majority of americans. republicans, democrats, independents, conservatives, and liberals, who read the newspaper or turn on the television and don't hear anyone speaking for them. all they hear are insiders fighting for other insiders. that's what they do. these are the forgotten men and women in our society. and they are angry at so much and on so many levels. the poverty, the unemployment,
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the failing schools, the jobs moving to other countries. i am fighting for these forgotten americans. [applause] [cheering] 14 months ago, i declared my campaign for the presidency on the promise to give our government back to the people. [applause] [cheering] every day since then, i have worked to repay the loyalty and the faith that you have put me. every day, i think about how much is at stake for our country in the upcoming election. this is not just the fight of my life, it is the fight of our
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lives, together, to save our country. [applause] [cheering] thank you. i refuse to let another generation of american children be excluded from the american dream, which is what is happening. our whole country loses when young people of limitless potential are denied the opportunity to contribute their talents, because we failed to provide them the opportunities that they deserve. let our children be dreamers, too. our whole country loses every time a kid does not graduate from high school, or fails to
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enter the workforce, or worse still, is lost to the dreadful world of drugs and crime. and so many are. so, so many. when i look at the failing schools, the terrible trade deals, the infrastructure crumbling in our inner cities, i know all of this can be fixed, and i can fix it, but i know it can be fixed very, very quickly, if we know what we are doing. [applause] [cheering] in the world i come from, if something is broken, you fix it. if something is not working, you replace it. if a product doesn't deliver, you make a change. i have no patience for injustice. no tolerance for government incompetence.
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and that is what it is. gross incompetence. and, no sympathy for leaders who fail their citizens. that is why i'm running to end the decades of bitter failure and to offer the american people a new future of honesty, justice, and opportunity. [applause] [cheering] a future where america and its people always, and i mean, always, comes first. america first. remember. america first. america first. [applause] [cheering] mr. trump: aren't you tired of a system that gets rich, and this
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is a system which is getting very rich at your expense. that's what's happening. aren't you tired of the same old lies and the same old broken promises? >> yeah. mr. trump: and hillary clinton has proven to be one of the greatest liars of all time. [applause] [cheering] aren't you tired of arrogant leaders who look down on you instead of serving and protecting you? and that's what's happening. that is all about to change. and it is about to change very, very soon. how about november 8? [applause] [cheering] mr. trump: we are going to put the american people first again.
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i've traveled all across this country, laying out my bold and modern agenda for change. and this journey -- i will never lie to you. i will never tell you something i do not believe. i will never put anyone's interest ahead of yours. [applause] [cheering] and, i will never, ever stop fighting for you. [applause] [cheering] i have no special interest
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controlling me. and i have no special interest. i'm spending millions and millions of dollars on my own campaign. i'm funding my campaign. my only interest is the american people. this country has been so good to me, i'm giving back. and that's what it's all about -- giving back. so while sometimes i can be too honest, hillary clinton is the exact opposite. she never tells the truth. one lie after another, and getting worse with each passing day. >> lock her up. lock her up. lock her up. lock her up. mr. trump: the american people are still waiting for hillary clinton to apologize for all of the many lies see has told them, and all the times she has put them in great danger.
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tell me. has hillary ever apologized for lying about her e-mail server and deleting 30,000 e-mails? >> no. mr. trump: has hillary clinton apologize for making the state department into a play-for-pay operation, where favors are sold to the highest bidder, which is exactly what is happening? >> no. mr. trump: has she apologized for lying to the families who lost loved ones at benghazi? >> no. mr. trump: has she apologized for putting iran on a path for nuclear weapons? >> no. mr. trump: has she apologized for iraq? >> no. mr. trump: for libya? for syria? has she apologized for
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unleashing isis across the world? she and barack obama unleashed isis, whether you like it or don't like it, whether you want to hear it or you don't, that is what happened. [applause] [cheering] has hillary clinton apologized for the decisions she made that have led to so much death, destruction, and terrorism? >> no. mr. trump: speaking of lies, we now know from the state department, just announced, that president obama lied about the $400 million in cash that was flown to iran. it was flown to iran. $400 million in cash. he denied it was for the hostages, but it was.
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just came out. he said, we do not pay ransom, but we did. he lied about the hostages openly and blatantly, just like he lied about obamacare. [booing] you remember, you can have your doctor, you can have your plan. right? you can have your doctor, you can have your plan. didn't work out that way. now, the administration has put every american traveling overseas, including our military personnel, at greater risk of being kidnapped. hillary clinton owns president obama's iran policy. one more reason she can never, ever be allowed to be president. let's talk about the economy.
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here, in this beautiful and great state, so many people had suffered because of nafta. nafta. remember nafta. what it's done to this country. bill clinton signed the deal and hillary clinton supported the deal. north carolina has lost nearly half of its manufacturing jobs since nafta went into effect. bill clinton also put china into the world trade organization, another hillary clinton-backed disaster. your city of charlotte has lost 1 in 4 manufacturing jobs since china joined the wto, and many of these jobs were lost while hillary clinton was secretary of state. our chief diplomat with china.
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she was a disaster, totally unfit for this job. totally unfit. [applause] hillary clinton owes the state of north carolina a very big apology, and i think you'll get that apology around the same time you'll get to see her 33,000 deleted e-mails. in other words, you'll never see the apology. another major issue in this campaign has been the border. our open border has allowed drugs and crime and gangs to pour into our country and our communities. so much needless suffering, so much preventable death. i've spent time with the families of wonderful americans,
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whose loved ones were killed by the open borders and sanctuary cities that hillary clinton supports. i've embraced crying parents, who have lost their children to violence spilling across our border. parents like laura wilkerson, and michelle rood, and sabine durdin and my friend jamille and shaw, whose children were killed by illegal immigrants so needlessly. my opponent supports sanctuary cities. [boos] but where were these sanctuaries for kate steinle? where were they?
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where were they? where was it? [applause] where was the sanctuary for kate? think about it. where was the sanctuary for the children of laura and michelle and sabine and jamille? where was the sanctuary for every other parent who has suffered so horribly? these moms and dads don't get a lot of consideration from our politicians. they certainly don't get apologies. they'll never even get the time of day from hillary clinton. she doesn't even care, i'm convinced. but they will always come first to me.
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listen closely. we will deliver justice for all of these great american families. [applause] [cheers] we will create a system of immigration that makes us all proud. hillary clinton's mistakes destroy innocent lives, sacrifice national security, and betray the working families of this country. please remember this, i will never put personal profit before national security. nobody should. [applause] i will never leave our border open to appease donors and special interests, which is what hillary is doing, and they are doing appeased. i will never support a trade deal that kills american jobs.
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[applause] [cheers] i will never, ever put the special interests before the national interests. [applause] [cheers] i will never put a donor before a voter, or a lobbyist before a citizen. [applause] [cheers] instead, i will be a champion for the people. the establishment media doesn't cover what really matters in this country or what's really going on in people's lives. they will take words of mine out of context and spend a week obsessing over every single syllable, and then pretend to discover some hidden meaning in what i said. [applause] [cheers]
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just imagine for a second, if the media spent this energy holding the politicians accountable who got innocent americans like kate steinle killed. she was gunned down by an illegal immigrant who had been deported five times. just imagine if the media spent time -- and lots of time -- investigating the poverty and joblessness of the inner cities. just think about how much different things would be if the media in this country sent their cameras to our border, to our closing factories, or to our failing schools. [applause] [cheers]
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or the media focused on what dark secrets must be hidden in the 33,000 e-mails that hillary clinton illegally deleted. [applause] [cheers] >> lock her up. lock her up. lock her up. lock her up. lock her up. lock her up. mr. trump: thank you. instead, every story is told from the perspective of the insider. it's the narrative of the people who rigged the system, never the voice of the people it's been rigged against, believe me. so many people suffering for so long in silence. no cameras, no coverage, no outrage from the media class that seems to get outraged over just about everything else.
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so again, it's not about me. it's never been about me. it's been about all the people in this country who don't have a voice. i am running to be your voice. [applause] [cheers] >> donald trump. donald trump. donald trump. mr. trump: thank you. i am running to be the voice for every forgotten part of this country that has been waiting and hoping for a better future. i am glad that i make the powerful -- and i mean very powerful -- a little uncomfortable now and again, including some of the powerful people, frankly, in my own party.
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because it means that i'm fighting for real change, real change. [applause] there's a reason hedge fund managers, the financial lobbyists, the wall street investors, are throwing their money all over hillary clinton. because they know she will make sure the system stays rigged in their favor. it's the powerful protecting the powerful, the insiders fighting for the insiders. i am fighting for you. [applause] [cheers] here is the change i propose. on terrorism, we are going to end the era of nation-building and, instead, focus on
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destroying, destroying, destroying isis and radical islamic terrorism. [cheers] we will use military, cyber, and financial warfare, and work with any partner in the world and the middle east that shares our goal of defeating terrorism. i have a message for the terrorists trying to kill our citizens. we will find you. we will destroy you. we will absolutely win, and we will win soon. [applause] on immigration, we will temporarily suspend immigration
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from any place where adequate screening cannot be performed. extreme vetting. remember, extreme vetting. all applicants for immigration will be vetted for ties to radical ideology, and we will screen out anyone who doesn't share our values and love our people. [applause] [cheers] >> usa. usa. usa. usa. usa. usa. mr. trump: anyone who believes sharia law supplants american law will not be given an immigrant visa. [applause] [cheers] if you want to join our society, then you must embrace our society, our values, and our
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tolerant way of life. [applause] [cheers] those who believe in oppressing women, gays, hispanics, african-americans, and people of different faiths, are not welcome to join our great country. [applause] [cheers] we will promote our american values, our american way of life, and our american system of government. which are all the best in the world. [applause] [cheers] my opponent, on the other hand, wants a 550% increase in syrian refugees, even more than already
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pouring into our country under president obama. her plan would bring in roughly 620,000 refugees from all refugee-sending nations in her first term alone, on top of all other immigration. think of that. think of that. [boos] what are we doing? hillary clinton is running to be america's angela merkel. [boos] and we've seen how much crime and how many problems that's caused the german people and germany. [applause] we have enough problems already. we do not need more. on crime, we're going to add more police, more investigators, and appoint the best judges and
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prosecutors in the world. [applause] [cheers] we will pursue strong enforcement of federal laws. the gangs and cartels and criminal syndicates terrorizing our people will be stripped apart one by one, and they'll be sent out of our country quickly. [applause] [cheers] their day is over. and it's going to end very, very fast. our trade -- thank you. on trade, we're going to renegotiate nafta to make it better. and if they don't agree, we will withdraw. [applause] [cheers]
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and likewise, we're going to withdraw from transpacific partnership, another disaster. stand up to china on our terrible trade agreements and protect every last american job. hillary clinton has supported all of the major trade deals that have stripped this country of its jobs and its wealth. we owe $20 trillion. on taxes, we are going to massively cut tax rates for workers and small businesses, creating millions of new good-paying jobs. [applause] [cheers] we're going to get rid of regulations that send jobs overseas, and we are going to
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make it easier for young americans to get the credit they need to start a small business and pursue their dream. [applause] [cheers] on education, so important, we are going to give students choice and allow charter schools to thrive. we are going to end 10-year policies that reward bad teachers and hurt our great, good teachers. [applause] [cheers] my opponent wants to deny students choice and opportunity, all to get a little bit more money from the education bureaucracy. she doesn't care how many young dreams are dashed or destroyed, and they're destroyed.
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young people are destroyed before they even start. we are going to work closely with african-american parents and children. we are going to work with the parent students. we are going to work with everybody in the african-american community, in the inner cities, and what a big difference that is going to make. it's one of the things i most look forward to doing. [applause] [cheers] this means a lot to me, and it is going to be a top priority in a trump administration. on healthcare, we are going to repeal and replace the disaster called "obamacare." countless americans have been forced into part-time jobs,
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premiums are about to jump by double digits yet again. and just this week, aetna announced it is pulling out of the exchanges all over, but also in north carolina. we are going to replace this disaster with reforms that give you choice and freedom and control in healthcare at a much, much lower cost. you'll have much better healthcare at a much lower cost. and it will happen quickly. [applause] [cheers] on political corruption, we are going to restore honor to our government. in my administration, i'm going to enforce all laws concerning the protection of classified
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information. [applause] no one will be above the law. i am going to forbid senior officials from trading favors for cash by preventing them from collecting lavish speaking fees through their spouses when they serve. [applause] [cheers] i'm going to ask my senior officials to sign an agreement not to accept speaking fees from corporations with a registered lobbyist for five years after leaving office, or from any entity tied to a foreign government. [applause] [cheers] finally, we are going to bring our country together. it is so divided. we are going to bring it together. we are going to do it by emphasizing what we all have in common as americans. we're going to reject bigotry --
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and i will tell you the bigotry of hillary clinton is amazing. she sees communities of color only as votes, and not as human beings. worthy of a better future. it's only votes, it is only votes that she sees, and she does nothing about it. she's been there forever, and look at where you are. if african-american voters give donald trump a chance by giving me their vote, the result for them will be amazing. [applause] [cheers] look how badly things are going under decades of democratic leadership leadership. look at the schools.
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look at the poverty. look at the 58% of young african-americans not working. 58%. it is time for a change. what do you have to lose by trying something new? i will fix it. watch. i will fix it. you have nothing to lose, nothing to lose. [applause] [cheers] it is so bad. the inner cities are so bad, you have nothing to lose. they have been playing with you for 60, 70, 80 years, many decades. you have nothing to lose. i will do a great job. [applause] [cheers] this means so much to me, and i will work as hard as i can to bring new opportunity to places in our country which have not
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known it in a very, very long time. hillary clinton and the democratic party have taken african-american votes totally for granted. because the votes have been automatically there for them, there has been no reason for democrats to produce, and they haven't. they haven't produced in decades and decades. it's time to break with the failures of the past and to fight for every last american child in this country to have a better and a much, much brighter future. [applause] [cheers] in my administration, every american will be treated equally, protected equally, and honored equally.
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we will reject bigotry and hatred and oppression in all of its forms and seek a new future built on our common culture and values, as one american people. [applause] [cheers] this is the change i am promising to all of you. an honest government, a great economy, and a just society for each and every american. [applause] [cheers] but we can never ever fix our problems by relying on the same politicians who created these problems in the first place. can't do it. 72% of voters say our country is
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on the wrong track. i am the change candidate. hillary clinton is for the failed status quo, to protect her special interests, her donors, her lobbyists, and others. it is time to vote for a new american future. [applause] [cheers] together, we will make america strong again. we will make america proud again. we will make america safe again. friends and fellow citizens, come november, we will make america great again. greater than ever before.
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thank you, thank you, and god bless you. thank you. [applause] [cheers] ♪ [captions copyright national cable satellite corp. 2016] [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org] ♪
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>> roger stone is a republican political consultant and longtime friend of donald trump. he is our guest on newsmakers this weekend. you can see it at a special time tonight at 8:00 eastern and again at 11:00 eastern. this fall is the presidential debate between donald trump and hillary clinton. the first on monday, september 26 in new york. 9 p.m. eastern time on c-span. the next two debates are sunday, to over nine and wednesday, october 19. those are also at 9:00 eastern time in the evening and live on c-span. right now, donald trump and his running mate mike pence visit louisiana today to survey flood damage in the state.
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[indiscernible] >> not even in the flood stage. [indiscernible]
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>> we know you would be here for us. glad you are not playing golf. >> mr. trump! >> mr. trump, thank you!

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